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"From a micro and macro perspective, I think it has to do with the emancipation of productivity in (the) growth of China," he said.

"Given the Chinese economy's weight in global growth, if it stabilizes, it will play a very positive role in boosting global trade and growth," said Liang, who is also chairman of the China Silk Road iValley Research Institute.

"From Monday to Friday, the vast central and eastern regions will see a major drop in temperature, up to 14 degrees, turning the warmer January into a colder one," said Zhang Fanghua, the center's chief forecaster, who added that chilly gusts will make people feel even colder. The average daily temperature until Sunday in these regions has been higher than the average level in the past 30 years, according to data from the center, but the cold front is expected to send it below the average level by 2 to 5 degrees. In addition, after the cold front fades on Friday, a new bout will arrive one day later to keep the freezing weather around until the end of the month, she said.

"Given their size, given their market size and enormous potential, it only makes sense to these countries to be more active internationally," he said, while highlighting the potential scope in building rural-infrastructure in India and China as well as other developing nations.

"Going ahead, China needs more concentrated efforts in developing high-end chips and integrated circuit. The country's traditional industries will also see increasing tech adaptations," Xu said. "The future of the digital economy is in the hands of all countries and the global community should step up communications and cooperation for a shared future."